Mutual of America Capital Management LLC Reduces Stock Holdings in Churchill Downs Incorporated (NASDAQ:CHDN)

Mutual of America Capital Management LLC cut its holdings in Churchill Downs Incorporated (NASDAQ:CHDN) by 5.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 38,298 shares of the company’s stock after selling 2,147 shares during the quarter. Mutual of America Capital Management LLC owned about 0.05% of Churchill Downs worth $5,346,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Capital Research Global Investors raised its position in shares of Churchill Downs by 0.5% in the 4th quarter. Capital Research Global Investors now owns 6,814,665 shares of the company’s stock valued at $919,513,000 after purchasing an additional 35,337 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Churchill Downs by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 6,726,402 shares of the company’s stock worth $907,593,000 after buying an additional 37,065 shares during the last quarter. Capital International Investors lifted its stake in shares of Churchill Downs by 7.5% during the first quarter. Capital International Investors now owns 2,560,653 shares of the company’s stock worth $316,881,000 after buying an additional 177,900 shares during the period. William Blair Investment Management LLC purchased a new stake in shares of Churchill Downs during the second quarter valued at $125,418,000. Finally, Jennison Associates LLC increased its position in shares of Churchill Downs by 5.6% in the 1st quarter. Jennison Associates LLC now owns 847,847 shares of the company’s stock valued at $104,921,000 after acquiring an additional 44,773 shares during the period. Institutional investors and hedge funds own 82.59% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CHDN. Truist Financial reaffirmed a “buy” rating and set a $166.00 price target (up previously from $165.00) on shares of Churchill Downs in a research report on Friday, July 26th. Bank of America upgraded Churchill Downs from a “neutral” rating to a “buy” rating and upped their target price for the company from $145.00 to $155.00 in a research report on Monday, August 12th. Mizuho raised their price target on shares of Churchill Downs from $143.00 to $157.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Wells Fargo & Company upped their price objective on shares of Churchill Downs from $150.00 to $161.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Finally, Stifel Nicolaus raised their target price on shares of Churchill Downs from $153.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $156.90.

Churchill Downs Stock Down 2.1 %

CHDN opened at $137.68 on Friday. The company has a fifty day moving average of $138.69 and a two-hundred day moving average of $132.44. The stock has a market capitalization of $10.12 billion, a price-to-earnings ratio of 30.66, a PEG ratio of 2.04 and a beta of 0.97. Churchill Downs Incorporated has a fifty-two week low of $106.45 and a fifty-two week high of $146.64. The company has a debt-to-equity ratio of 4.65, a quick ratio of 0.57 and a current ratio of 0.57.

Churchill Downs (NASDAQ:CHDN) last announced its quarterly earnings results on Wednesday, July 24th. The company reported $2.89 earnings per share for the quarter, beating the consensus estimate of $2.71 by $0.18. The firm had revenue of $890.70 million during the quarter, compared to analyst estimates of $858.59 million. Churchill Downs had a return on equity of 47.53% and a net margin of 15.61%. Churchill Downs’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.24 EPS. On average, research analysts expect that Churchill Downs Incorporated will post 6.17 earnings per share for the current year.

Churchill Downs Profile

Churchill Downs Incorporated operates as a racing, online wagering, and gaming entertainment company in the United States. It operates through three segments: Live and Historical Racing, TwinSpires, and Gaming. The company operates pari-mutuel gaming entertainment venues; TwinSpires, an online wagering platform for horse racing, sports, and iGaming; retail sports books; and casino gaming.